Congressional Leaders Press HSBC on Undermining Human Rights in Hong Kong in Letter

The bipartisan letter also seeks end to restrictions on accounts of American citizens and groups in Hong Kong

Washington, D.C., (Thursday, March 3, 2022) - Today, 2022, a bipartisan group of members of the bipartisan and bicameral Congressional-Executive Commission on China (CECC) released a letter to HSBC, a British multinational investment bank and financial services company, asking about the freezing of accounts of Hong Kong media and civil society groups and restrictions placed on the accounts of American citizens at HSBC branches located in the United States.

The bipartisan letter was led by CECC’s Co-Chairs Senator Jeff Merkley (D-OR) and Representative James P. McGovern (D-MA), Ranking Members Senator Marco Rubio (R-FL) and Representative Chris Smith (R-NJ); and Commissioners Senators Dianne Feinstein (D-CA), James Lankford (R-OK), Angus King (I-ME), and Steve Daines (R-MT) and Representatives Vicky Hartzler (R-MO), Tom Suozzi (D-NY), Jennifer Wexton (D-VA), Tom Malinowski (D-NJ), and Michelle Steel (R-CA).

The Campaign for Hong Kong releases a statement from Founder and President, Samuel Chu:

"The bipartisan letter to HSBC is a major step forward in exposing and neutralizing a key tactic of the Beijing government and its campaign of repression - namely, the use of private corporations and financial institutions to do its 'dirty work' of restricting the freedoms of individuals, civil society groups and foreign citizens.

The invasion of Ukraine has shown that if we have the will, we can hold financial institutions accountable for enabling and ignoring gross human rights violations and atrocities. Unfortunately, HSBC is not a first-time offender, and I am glad this bipartisan group of Congressional leaders is calling them out.

I have worked closely with Congress over the past three years to pass legislation like the Hong Kong Autonomy Act, which was designed to hold individuals and banking institutions accountable for their roles in eroding Hong Kong's autonomy and freedoms. What HSBC has done in freezing accounts of media and civil society groups in Hong Kong and placing restrictions on accounts in the US fall squarely within the jurisdiction and scope of sanctions mandated by law."

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